US Job – Payroll Growth Trailed Forecasts Ahead of Shutdown

October 26, 2013

The 148,000 increase followed a revised 193,000 gain in August that was larger than initially estimated, Labor Department figures showed today in Washington. The unemployment rate fell to 7.2 percent, the lowest level since November 2008.

Stocks and Treasuries climbed as the report supported expectations that the Federal Reserve won’t hurry to reduce monthly bond purchases aimed at spurring growth and employment. Progress in the labor market depends on how quickly the economy can bounce back from the loss of business and confidence caused by the budget battles in Washington.

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Canada’s housing market begins to apply the brakes

October 26, 2013

The housing market is already decelerating, making a discussion about overheated home prices premature at this point, says the association which represents realtors.

“While the momentum for sales activity began improving a few months ago, it may be losing steam after having just climbed back in line with an average of the past 10 years, said Gregory Klump, chief economist with the Ottawa-based Canadian Real Estate Association, which represents about 100 boards across the country.

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RBC – Housing Affordability Declines, But Canadians Keep Buying Nonetheless

October 26, 2013

The quarterly increase was not spectacular — 0.3 points to 42.7 per cent on a detached bungalow and 0.4 points to 48.4 per cent on a standard two-storey home. The index on a condo was unchanged at 27.9 per cent.

As with past samplings, Vancouver and Toronto continue to stand out as the least affordable cities. During the second quarter, Vancouver’s affordability reading rose 2.2 points to 82.1 on a detached bungalow, while Toronto’s edged up half a point to 54.5.

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Canada – How the housing market’s weak foundation will affect home buyers

October 26, 2013

Globe and Mail

US – Single-Family Rental Market Trying to Prove It’s Sustainable

October 25, 2013

The recent initial public offering by real estate investment trust American Homes 4 Rent, which captured $706 million, raises more questions than answers about the long-term viability of the single-family rental home market.

Even the Federal Housing Finance Agency—whose Real Estate Owned Pilot Initiative, launched two years ago, has transferred 1,763 REO properties to new owners—seems ambivalent about future demand. 

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US – NAHB Offers Reasons for Optimism About Housing’s Full Recovery

June 27, 2013

The nation’s growth “is finally being driven by housing again,” proclaimed David Crowe, NAHB’s chief economist, during the association’s Construction Forecast Webinar. Home prices have been rising, partly the result of tightening inventory of completed new homes, which in turn is stimulating demand. Employment—a major factor in home-buying decisions—continues to strengthen, albeit incrementally. And housing’s recovery is now national in scope.

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2013 Clouds gather over Canadian housing market

April 15, 2013

The flicker of optimism that sparked in Canada’s housing market when January sales outpaced December’s has died out, erased by a notable drop in February.

Last month’s declines were significant enough to prompt the Canadian Real Estate Association (CREA) to cut its sales outlook for 2013 for the third time since last summer.

The number of homes that changed hands across the country over the Multiple Listing Service (MLS) in February came in 15.8-per-cent lower than a year ago, and 2.1-per-cent lower than January.

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